Yes, you should consider a defensive stance, but not every blue chip is the perfect avenue for safety right now

Coca-Cola

Coca-Cola (KO) is an iconic American brand that is a household name both at home and abroad. Couple that with the 2.8% dividend yield and a massive portion of shares held by Warren Buffett and Berkshire Hathaway (BRK.B), and it seems natural to call Coke the ultimate low-risk income play.

But Coca-Cola stock has underperformed in 2013 significantly, and weak earnings lately hint at trouble. Coke earnings details showed North American sales volume slipped for the first time in 13 quarters as soda consumption continues to dry up amid a focus on healthier eating in the U.S. and changing consumer tastes.